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Amgen, biotech drug developer, said it will pay $116.50 in cash for each share of Horizon, which makes a thyroid eye disease treatment that generated more than $1 billion in its first full year on the market.
The deal offers Amgen another chance to build its portfolio of rare-disease treatments after it closed in October a roughly $3.7 billion acquisition of ChemoCentryx, which focuses on autoimmune disease drugs.
Horizon Therapeutics PLC, based in Dublin, Ireland, develops potential treatments for rare, autoimmune and severe inflammatory diseases. Its best-seller, Tepezza, is only approved in the United States and treats eye bulging and double vision from thyroid eye disease.
Read more at Associated Press